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Failed Auction

The Iranian Privatization Organizations (IPO) announced the annulment of the public auction for the country’s two major state-owned football clubs Perspolis and Esteqlal until further notice, IRNA reported. The IPO head, Abdollah Pouri-Hosseini, said since no bidder has stepped forward, the auction, which was supposed to be held on Tuesday, would be postponed. According to the IPO chief, investors are reluctant, saying the clubs have no return on investment (ROI).